[06/28/16] Economic growth in the United States slowed in the first quarter but not as sharply as previously estimated, with gains in exports and software investment partly offsetting weak consumer spending.
Gross domestic product increased at a 1.1 percent annual rate, rather than the 0.8 percent pace reported last month, the Commerce Department said on Tuesday, in its final estimate.
First-quarter G.D.P. growth has been revised higher by 0.6 percentage point since the first estimate was published in April. The economy grew at a rate of 1.4 percent in the fourth quarter. The first-quarter revision was broadly in line with economists’ expectations.